New regulation, uncertain financial markets and disruptive technology—just a few of the challenges facing asset and wealth managers today. This is necessitating a re-examination of managers' operating models as they look for ways to adapt and thrive in an increasingly complex environment.
So, how do asset and wealth managers view the future and what are their plans for implementing change? The 2023 Asset & Wealth Management Survey, conducted by RBC Investor Services in partnership with Ignites Research and The ValueExchange, asked more than 250 managers from across the globe and here’s what they had to say:
- 51% are looking for the crypto market to contract (17% anticipate higher demand)
- 24% currently use key performance optimization tools
- 54% expect to realize operational change via in-house development
- 26% view ESG reporting as the top priority in Europe—10% in Canada
- 2% see skills shortages as a driver of operational change